Norden has recorded its best quarter in 10 years on the back of strong bulker markets — but the owner-operator has adjusted its profit guidance for 2021.

The Danish firm, which owns and operates bulkers and product tankers, has also announced it will repurchase up to $40m of its shares in a new buy-back scheme.

Chief executive Jan Rindbo said Norden "capitalised on a favourable position in very strong dry-cargo...